Thailand Trade December 2016

Thailand: Export growth eases in December

January 24, 2017

In December, the Thai trade balance recorded a USD 0.9 billion surplus. The reading was below the USD 1.5 billion surplus observed in the same month of the previous year and the USD 1.5 billion surplus registered in November. The 12-month sum of the trade balance recorded a USD 20.7 billion surplus in December, which was slightly down from the USD 21.2 billion surplus seen in the previous month.

Exports in December grew 6.2% on an annual basis, slowing down from the 10.2% surge seen in November. Imports accelerated and grew 10.3% in December (November: +3.0% year-on-year).

In 2017, FocusEconomics Consensus Forecast panelists expect exports to increase 1.6% and they see the trade surplus reaching USD 29.1 billion. For 2018, panelists expect exports to expand 1.9% and the trade surplus to be USD 25.9 billion.

Hawkishness continues to grow among the members of the Monetary Policy Committee of the Bank of Thailand, despite leaving the one-day repurchase rate unchanged at 1.50%, where it has been for over three years.

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